Manufactured Housing Financing
Webinar: Introduction to MH Financing
Join Fannie Mae representatives to learn about manufactured home financing options, with an overview of programs and policies that can support your manufactured home financing business.
With the country facing a shortage of affordable homes, manufactured housing provides a solution for borrowers ready to purchase. Whether a borrower is taking one of the most affordable paths to homeownership, or a more attainable alternative to site-built homes, Fannie Mae offers options to help a range of customers achieve the dream of homeownership.
Why Choose Conventional Financing?
Cancelable Mortgage Insurance
Mortgage insurance is cancellable once the borrower reaches 20% equity, resulting in savings during the life of the loan.
Available to a range of borrowers
Borrowers with Credit score ≥ 620 are eligible; borrowers with credit scores ≥ 680 may get even better pricing.
From single-width to similar-to-site-built
Whether financing MH Advantage homes with site-built features or more affordable single-width MH, Fannie Mae has an offering for your borrowers.
For traditional single- and multi-width manufactured homes.
For homes built to appeal to site-built borrowers.
|Minimum down payment||5%||3%|
Must be titled as real property
|Design||Traditional single- and multi- width homes.||Multi- width homes with features similar to site-built homes. See Home Specs|
|Must include a minimum of two manufactured home comps. Additional requirements for single-width MH.||Must use MH Advantage comps if available. May use site-built comps if MH Advantage comps are unavailable.|
|Varies from site-built homes.||Consistent with site-built homes.|
See the MH Product Matrix for more information about MH Advantage and Standard MH Financing.
*Loan Level Price Adjustments (LLPAs) are waived for first-time homebuyers that meet certain income requirements and Duty to Serve loans. See the LLPA Matrix and Duty to Serve eligibility requirements for details.
Find additional resources, including training, fact sheets, MH Advantage Specs, and other resources.
C-to-P for Manufactured Housing
Manufactured homes are now eligible for Construction-to-Permanent financing. Find more details on the C-to-P Financing page or the MH Financing Matrix.
MH in traditional builder models
Learn how developers and home builders could leverage innovative financing solutions like MH Advantages in community settings.
MH Advantage for Retailers
MH Advantage resources for retailers, including a Retailer Guide and Marketing Kit.
To qualify for purchase loans with an LTV greater than 95%, homeownership education will be required for at least one borrower, when all occupying borrowers are first-time homebuyers. Fannie Mae HomeView™, which provides a clear view into the homeownership process, can be used to satisfy the homeownership education requirement.
Learn more about homeownership education.